The Guangdong Provincial Government officially announced new policies and measures for real economy development at a press conference on Sept 10.
Zhong Xuanhui, deputy secretary-general of the Guangdong Provincial Government, attended the press conference.
He briefed that in August last year, the provincial government issued "Several Policies and Measures to Reduce the Cost of Manufacturing Enterprises and Support the Development of the Real Economy in Guangdong Province", which has achieved good results in reducing the burden on enterprises and supported the transformation and upgrading of the manufacturing industry. It has reduced business cost of nearly 100 billion yuan ($14.56 billion) for enterprises.
In order to further promote the high-quality development of the real economy and better benefit the vast number of enterprises, the provincial government revised the measures and issued the new version.
The new measures cover 10 aspects and 61 policies, primarily focusing on problems faced by the public and enterprises, such as land use, the price concessions for land use, industrial plant division registration and project approval.
A number of targeted policies and more supportive efforts have been made to strengthen land security for major industrial projects, improve services for major industrial projects, reduce land cost for industrial enterprises, revitalize property assets of industrial enterprises, and further reduce the cost of power consumption, transportation and financing for enterprises.
It is estimated that the direct cost reduction for enterprises will exceed 200 billion yuan from 2018 to 2020.